State‑run oil marketing companies have kept petrol and diesel prices unchanged on July 15, as fuel rates remain at the levels set after the late‑May hike. This means motorists across major metros are paying the same prices as in recent weeks, even as global crude markets stay volatile.
Indian Oil, Bharat Petroleum and Hindustan Petroleum continue to follow the daily dynamic pricing system, under which pump rates can be adjusted every morning based on global crude prices and currency movements.
Last week, Oil Minister Hardeep Singh Puri suggested that reducing local fuel costs is not an option at this time.
Fuel prices in the nation have escalated four times over the last four months amid the Iran war, increasing by about Rs 7.5-8 per litre during the period.
Petrol prices on July 15
- Petrol price in Delhi: Rs 102.12/litre
- Petrol price in Kolkata: Rs 113.43/litre
- Petrol price in Mumbai: Rs 111.12/litre
- Petrol price in Chennai: Rs 107.75/litre
- Petrol price in Hyderabad: Rs 115.69/litre
- Petrol price in Bengaluru: Rs 110.93/litre
Diesel prices on July 15
- Diesel price in Delhi: Rs 95.20/litre
- Diesel price in Kolkata: Rs 99.78/litre
- Diesel price in Mumbai: Rs 97.78 litre
- Diesel price in Chennai: Rs 99.57/litre
- Diesel price in Hyderabad: 103.82/litre
- Diesel price in Bengaluru: 98.79/litre
Global Crude Prices
Oil prices extended their rally for a third consecutive session on Wednesday after U.S. President Donald Trump threatened further military action against Iran, adding to supply concerns as shipping disruptions in the Strait of Hormuz intensified.
Global benchmark Brent crude climbed toward $86 a barrel, while West Texas Intermediate traded above $80, building on an 11% surge over the previous two sessions.
The latest gains came after Trump warned that the U.S. would continue striking Iranian targets and could target power plants and bridges as early as next week unless Tehran agreed to return to negotiations.
The renewed escalation followed Washington's decision to resume its blockade of Iranian shipping through the Strait of Hormuz, one of the world's most critical energy chokepoints.
ALSO READ: Oil Prices On July 15: Brent Crude Nears $86 As Trump Threatens Fresh Strikes On Iran
What Moves Petrol And Diesel Prices?
While international crude rates are the biggest factor for fuel prices in India, they aren't the only ones. Taxes, freight costs, refining margins, and the rupee-dollar exchange rate also play a key role in determining what you pay at the pump.
The Centre recently revised export duties on petroleum products. The change, however, does not impact retail fuel prices in India.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.